Mixed results for financial stocks, Schwab reports Q3 earnings decline

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Mixed results for financial stocks, Schwab reports Q3 earnings decline
Credit: © Reuters.

In Monday's premarket trading, the financial sector witnessed a mixed performance with certain stocks experiencing gains while others saw a decline. Financial Select Sector SPDR Fund (NYSEARCA:XLF) and Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) recorded an increase in their stock prices by 0.7% and 2.5% respectively. On the other hand, Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) experienced a fall of 2.4%.

Charles Schwab Corp (NYSE: SCHW ), the major brokerage firm, reported a decrease in its earnings for the third quarter of 2023, which led to a 0.6% drop in its share price on Monday.

Meanwhile, Goldman Sachs Group Inc (NYSE:NYSE: GS ) saw a rise of 0.9% in its shares, notwithstanding reports that senior executives are considering leaving the consumer lending sector associated with Apple (NASDAQ: AAPL ) products and co-branded credit cards with Apple and General Motors (NYSE: GM ). The news did not seem to dampen investor sentiment towards the global investment banking giant.

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